Gustavo Cisneros, the influential Venezuelan media magnate and co-founder of Univision, died in New York City at the age of 78, his company announced.
His death, reported after a brief struggle with pneumonia, marks the end of an era for the pioneering businessman who played a significant role in the media and entertainment industry across Latin America and the United States.
Born Gustavo Alfredo Cisneros Rendiles in Caracas, Venezuela, on June 1, 1945, Cisneros was the scion of a business family. His father, Diego Cisneros, was an established entrepreneur who had acquired the Pepsi concession for Venezuela in 1940 and later a local TV network in the 1960s.
Taking over the family business in 1970, Cisneros expanded it into a global empire. The Cisneros Group, under his leadership, grew to have investments in over 30 companies across 90 countries, spanning media, real estate, communications, and other industries.
In 1992, Cisneros achieved a milestone by co-founding Univision, the first Spanish-language media company in the United States. His vision didn’t stop there; he continued to innovate, launching DIRECTV in 1995 as the first satellite television service in Latin America. The expansion of the Cisneros Group under his guidance was a testament to his business acumen and foresight.
Cisneros’ influence extended beyond business. He and his wife, Patricia Phelps, whom he married 53 years ago, were prominent collectors of Latin American abstract art. Their significant contribution to the art world includes the donation of 102 works to the Museum of Modern Art in Manhattan in 2017.
The Cisneros family also ventured into sustainable tourism with the development of the Four Seasons Resort and Residences Dominican Republic at Tropicalia. Located in Miches, Dominican Republic, this luxury destination, slated to open in early 2026, underscores Cisneros’ commitment to balancing luxury with sustainability. The project reflects a blend of high-end amenities and environmental consciousness, aiming for LEED certification.
Apart from his business and philanthropic endeavors, Cisneros was a notable figure in the sports and entertainment world. His ownership of the Miss Venezuela pageant and the Leones de Caracas baseball team showcased his diverse interests and influence.
Cisneros is survived by his wife, Patricia Phelps, and their three adult children, including Adriana Cisneros, who currently serves as CEO of the Cisneros Group, and ten grandchildren. His legacy extends through his family, his vast business empire, and his contributions to the arts and philanthropy.
His residences spanned several countries, reflecting his global influence. He spent most of the year in the Dominican Republic’s exclusive La Romana resort and held a position on the board of Barrick Gold in the Caribbean country since 2003. Cisneros also maintained strong ties to Miami and South Florida, recognizing Miami’s significance as a global business hub.
Gustavo Cisneros’ death signifies the loss of a visionary leader whose impact on the media and entertainment landscape in Latin America and the United States was profound. His entrepreneurial spirit and commitment to cultural and philanthropic endeavors leave a lasting imprint on the industries he touched.